To those who repeatedly hear statements like 'there will no longer be an altcoin season in the future, BTC players have changed, and ETFs have entered, so in the future, there will only be BTC, no other crypto assets,' I can only say: this is utterly ridiculous.
Let's return to the most basic common sense. It's a good thing to see changes in the player community, and being optimistic about BTC is also correct. However, to believe that altcoin season will disappear is a complete lack of common sense.
In the long run, Bitcoin spot ETFs will indeed guide hundreds of millions of people into the cryptocurrency market, but who can imagine that these people will only buy Bitcoin and completely ignore any other assets? Such a situation has never occurred in any market of asset classes, so how can we expect an exception in the crypto market?
This kind of argument is clearly lacking in common sense. Those who believe that consensus only exists in BTC, that only BTC will rise while other assets are left to fend for themselves, are purely violating common sense and denying human nature.
Asset rotation is the most common phenomenon in behavioral economics. Since the establishment of the stock market as a professional investment venue, professional players and market makers have been guiding human nature through this method, which is the most conventional and rational model.
The emergence of good news and the parabolic rise of asset prices will inevitably lead some funds to immediately sell and realize profits in such situations, seeking other similar companies, speculating on who the next target might be, and then reinvesting profits into these companies. This is the basic logic of high beta. If the crypto world only had BTC, then the U.S. stock market wouldn't need IWM, and there wouldn't be GME or AMC.
Consensus only exists in BTC... and so on, a series of arguments and analyses, but unfortunately, the market is irrational, filled with speculation and expectations. Once a token rises, funds will quickly flow into similar tokens, hoping to capture the next wave of increase; this is the natural behavioral law of the market, existing both in ancient traditional speculative markets and in emerging crypto speculative markets.
This is common sense; all professional speculative market cycles are controlled and characterized by such simple logic. It is this kind of law that gives rise to the so-called altcoin season, which is rooted in human nature. No matter how great your ETF is, do you think that human nature will stop chasing highs and cutting losses because of you?
In one sentence: the accelerated influx of government, enterprises, and institutional investors into BTC will bring more capital overflow and a clearer altcoin season. So, hold onto your PEPE and ETH, these high-beta assets have an undeniable position in the market. The address for the Elon Musk-themed puppy coins has 16,000 holders, with a market value of less than 100 million, and decent potential.